Pensionfund Sabic Makes New $2.46 Million Investment in BlackRock, Inc. (NYSE:BLK)

Pensionfund Sabic bought a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,400 shares of the asset manager’s stock, valued at approximately $2,460,000.

Several other institutional investors also recently bought and sold shares of the stock. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC raised its stake in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after buying an additional 791,874 shares during the last quarter. FMR LLC grew its holdings in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of BlackRock during the 3rd quarter valued at about $115,377,000. Finally, BNP Paribas Financial Markets raised its position in BlackRock by 48.3% in the third quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock worth $320,148,000 after acquiring an additional 109,771 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup lifted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,063.00.

BlackRock Stock Up 0.5 %

Shares of BlackRock stock traded up $5.27 during trading on Monday, reaching $1,026.10. The company’s stock had a trading volume of 49,782 shares, compared to its average volume of 368,112. The company has a 50-day simple moving average of $1,030.95 and a two-hundred day simple moving average of $934.54. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The company has a market cap of $158.92 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 1.92 and a beta of 1.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $10.91 earnings per share. As a group, equities analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is presently 50.35%.

Insider Buying and Selling at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.